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Purposes open for Wake County small enterprise loans

From workers reviews

RALEIGH — Wake County is now accepting loan purposes from small companies and impartial contractors who’ve misplaced income due to the pandemic. 

The Wake Ahead program started Wednesday. 4-year loans of as much as $50,000 can be found to companies based mostly in Wake County with 100 or fewer workers. 

loan funds will start after six months. Curiosity will probably be charged at 5.5%. The funds are offered by the federal coronavirus stimulus bundle handed earlier this yr. 

“Local businesses and their employees have been hit hard by the effects of COVID-19, and the goal of this program is to help them find a way forward,” Wake County Board of Commissioners Chairman Greg Ford stated in an announcement. “During this time of uncertainty, Wake Forward provides immediate support for our small businesses and proprietors – as well as hope and stability for our entire community.”

The county has $5 million in funding obtainable. Of that, $four million will probably be given to small companies and $1 million to impartial contractors and sole proprietors. 

Wake County Financial Improvement has created a enterprise coalition to unfold the phrase concerning the obtainable loans, in accordance with a press launch. 

“The announcement of the Wake Forward small business program reinforces that county leadership is dedicated to helping support the small business community,” stated Danya Perry, director of equitable financial improvement at Wake County Financial Improvement. “Small businesses and sole proprietors are an important part of our ecosystem and provide goods and services that keep our community functioning. Providing support to these business owners, especially the historically underrepresented, is a big step in moving forward.”

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Go to or name 919-212-4950 for extra info.

Oliver Smith


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